Traditional market making activity, on an exchange that trades financial instruments, involves a market maker providing liquidity to a market, for example through streaming quotes for both a bid and an offer at a particular price. In return for the right to stream quotes, the market maker is often required by the exchange to quote in certain maximum bid/offer spreads, maintain a minimum number of active quotes or engage in other functions deemed necessary by the exchange to maintain a fair and orderly market. In an open outcry exchange, market maker status is typically attained through an application process mandated by an exchange in which the right to act as a market maker for instruments traded at a specific location, or pit, on a trading floor is requested by a party who is a member of the exchange. With the advent of all-electronic, and combined electronic and open outcry trading, market making may now take place in an entirely electronic virtual trading crowd remotely from a trading floor. Accordingly, there is a need for a more flexible market maker issue selection process that is not limited to grouping issues available for quoting by market makers to those traded in predefined pits or locations on a trading floor.